this post was submitted on 30 Jun 2024
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Cash transactions are way down. These advocates say the feds need to do something (www.cbc.ca)
submitted 1 month ago by [email protected] to c/[email protected]
30 comments fedilink hide all child comments
 

A consumer group is urgently calling on the federal government to follow other jurisdictions in the U.S and Europe and bring in legislation to stem the slide toward a cashless society.

Only 10 per cent of transactions in Canada today are done using cash, according to Carlos Castiblanco, an economist with the group Option Consommateurs.

"There is a need to protect cash right now before more merchants start refusing [it]," Castiblanco recently told CBC Radio's Ontario Today.

It's critical to act now, he added, before retailers begin removing all the infrastructure required to store and maintain physical money.

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[–] [email protected] 9 points 1 month ago (1 children)

The ONLY place I have used cash in the last year at least has been having a coin for my shopping cart and the local dump only takes cash.

I get 2-3% back on every transaction my credit card and pay it off every month for zero fees.

[–] [email protected] 5 points 1 month ago (1 children)

I'm the same.

But we also pay 5-6% more for everything as a society, or whatever credit cards are charging merchants now a days.

[–] [email protected] 2 points 1 month ago* (last edited 1 month ago)

$0.30 + 1.8-2.6% (up to 3.5% if they take Amex)